SouthState Corp Has $5.98 Million Position in Emerson Electric Co. (NYSE:EMR)

SouthState Corp reduced its stake in shares of Emerson Electric Co. (NYSE:EMR) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,227 shares of the industrial products company’s stock after selling 228 shares during the quarter. SouthState Corp’s holdings in Emerson Electric were worth $5,977,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. SlateStone Wealth LLC grew its position in shares of Emerson Electric by 2.4% during the 4th quarter. SlateStone Wealth LLC now owns 11,210 shares of the industrial products company’s stock worth $1,389,000 after buying an additional 265 shares during the period. GWN Securities Inc. acquired a new position in shares of Emerson Electric during the 4th quarter worth about $470,000. Glenview Trust co grew its position in shares of Emerson Electric by 1.2% in the 4th quarter. Glenview Trust co now owns 219,983 shares of the industrial products company’s stock valued at $27,262,000 after purchasing an additional 2,516 shares during the period. Sovereign Investment Advisors LLC acquired a new position in shares of Emerson Electric in the 4th quarter valued at approximately $363,000. Finally, Corient Private Wealth LLC grew its position in shares of Emerson Electric by 0.5% in the 4th quarter. Corient Private Wealth LLC now owns 963,780 shares of the industrial products company’s stock valued at $119,441,000 after purchasing an additional 5,224 shares during the period. 74.30% of the stock is currently owned by institutional investors and hedge funds.

Emerson Electric Stock Performance

NYSE:EMR opened at $112.11 on Monday. The stock’s 50-day simple moving average is $122.37 and its 200 day simple moving average is $118.96. The firm has a market capitalization of $63.22 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.49 and a beta of 1.36. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.25. Emerson Electric Co. has a twelve month low of $96.62 and a twelve month high of $134.85.

Emerson Electric (NYSE:EMR) last posted its earnings results on Wednesday, February 5th. The industrial products company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.28 by $0.10. Emerson Electric had a return on equity of 12.08% and a net margin of 13.74%. On average, analysts anticipate that Emerson Electric Co. will post 5.96 EPS for the current fiscal year.

Emerson Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.5275 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.11 annualized dividend and a yield of 1.88%. Emerson Electric’s dividend payout ratio is presently 50.36%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EMR. Royal Bank of Canada reiterated an “outperform” rating and issued a $138.00 price objective on shares of Emerson Electric in a research report on Thursday, February 6th. Daiwa Capital Markets began coverage on Emerson Electric in a research report on Tuesday, January 28th. They issued an “outperform” rating and a $147.00 price objective for the company. Loop Capital boosted their price objective on Emerson Electric from $130.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley upped their price target on Emerson Electric from $105.00 to $112.00 and gave the stock an “underweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price target on Emerson Electric from $140.00 to $142.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $136.28.

Emerson Electric Profile

Emerson Electric Co, a technology and software company, provides various solutions for customers in industrial, commercial, and consumer markets in the Americas, Asia, the Middle East, Africa, and Europe. It operates in six segments: Final Control, Control Systems & Software, Measurement & Analytical, AspenTech, Discrete Automation, and Safety & Productivity.